There are a number of technical analysts who believe this is a bear market rally and expect the index to test the March low. They mainly come from the Elliott camp.
First there has never been an established bear trend rally that has exceeded a 3/8 retracement. This is currently at 50% and exceeding 180 calendar day. This puts huge doubt in the rally being part of a bear trend, and currently this rally is in excess of 250 calendar days with 270 days the first week in December.
So we don’t expect a great fall and do expect a new high in 2010 and top.
The next series are between the
2nd and 5th of December. The timing for a low will fall into the time windows of 22, 30, 45 or 60 calendar days from the November 16th high. The pattern of trend and volume will tell which time window will be the low.
Quelle: Bill McLaren,
http://www.mclarenreport.net.au/arti...OPE/Page1.html
Quelle Dateianhang: http://www.godmode-trader.de/nachric...0955,b563.html
Auszug daraus:
"Ein langfristiges Zwischenziel liegt bei 5081,00 Punkten." (...) ... eine Halbierung im DOW Jones Index!